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to see everybody. thanks for joining us. carol, what are you expecting in 2013 under president obama's policies? >> i'm not expecting anything very good, maria. i think that we're going to end up with some sort of a slow down. i think whatever the compromise that ends up being made under this grand bargain, it's going to be something that ends up hurting unemployment. that being said, i think there's always a tale of two markets. from a broader market standpoint, i expect the market to be hurting. there's always opportunities to be had. >> steve, you have some breaking news earlier. you reported on janet yellen. tell us what that says about where we're headed in terms of economic growth in 2013. >> well, i think it tells us the fed is going to remain as loose as it possibly can through '13, '14, '15, and now even '16. janet yellen saying an optimal policy path, one that stays as close to 2% on inflation and tries to get the unemployment rate down to 6% could mean the fed remains easy through early 2016. by the way, they're thinking of scrapping all of that calendar date guidance thro
a shortened week. let's bring in our guests for their take on what went on. with us now, chip dixon, jeff cox, and rick santelli. nice to have you on the program. thanks for joining us. chip, let me begin with you. haven't see you in a little bit. we used to talk long ago when you were at a different firm. welcome back to cnbc. >> thank you. >> you are the director of research discern. what is your research telling you here about where we are in this market and in this cycle for the economy? >> well, it tell us that the housing sector is improving and the residential side. commercial permit activity, which we see, has gone up, it's kind of plateauing. it tells us we're dealing with a lot of uncertainty out there. there's a tremendous amount of pent-up capacity in corporate america if we can just get the right fiscal policies in place. this economy could do well. >> do you think things loosen up after the election when we know who the president will be? >> i think it depends. then we're going to have more clarity on the policies. what we want in place are constructive growth oriented fiscal po
wood, rick santelli, and michael jones. guys, good to see you. thanks so much for joining us. steven, what's your take on the markets right now and this storm? how does it impact the economy and the markets from here? >> i think it's modestly constructive. i think we're still in the middle of the square root shaped economic recovery we've been in for over three years now. a grinding upward trend within the data. i think you saw some of the positive news. i think the chinese numbers were a little stronger than many had figured. so the global economy may not be decelerating as quickly as many had feared, but certainly earnings are going to trump a lot of investors coming into the season. i think coming into the fourth quarter, earnings are going to be critical but revenue is going to be extremely critical in an economic environment that's grindsi grinding upward. >> kevin, what about you? i know you're growing increasingly pessimistic about the impact of the fiscal cliff. what else is becoming a drag in terms of uncertainty on in economy and the market? >> i think right now markets are
hands? let's get to our panel, david dahl, mark travis, and robert zagunis will join us in a moment. good to have you on the program. david, let me begin with you. how are you invested right now amidst all of these issues pertaining to the fiscal cliff, higher tax rates in 2013, et cetera? >> always good to be back with you. we've been defensive. we've looked for opportunities to take gains over the course of the year. thankfully we've been very u.s.-centric in our investments over the course of 2011-2012. what we're preparing for now is looking again at the foreign markets in 2013. >> foreign markets meaning you want to be allocating money outside of the u.s. because of these issues in the u.s.? >> well, taking a look at some of the large global players here in the u.s. and outside, because as tax rates go up here in the united states, what we're about to see is probably the laugher curve in reverse. tax rates going up, revenues declining, creating a headwind for gdp. we're look at companies in the world for looking for global growth opportunity outside our borders. >> mark, let me
-cabrera. >>> welcome to "the closing bell." i'm michelle caruso-cabrera. scott will join us in a second. maria is back tomorrow. a reversal of fortune on wall street as stocks trade on fiscal cliff comments from president obama and john boehner. here's how we finished the day on wall street, near the highs. up 105 points. 12,983. we'll have technicians looking at this day, seeing if it's a key reversal. the s&p also in positive territory. market driven by headlines and bluster out of washington. yep, that's what investors should expect short term. maybe until january 1st. should they also expect a rally any time soon? according to ryan dieterich, rally could most definitely be headed our way. >> he joins us now to explain along with peter anderson from congress asset management company. bill mcvail from turner investment partners and our very own rick santelli. peter, i have to begin with you. with a name like congress asset management, is congress going to come through for your assets? >> well, i wish i had an inside scoop on that, but unfortunately, we're also left to speculate at this point. but i
us. rick, i'm going to kick this off with you. what are traders saying ahead of tomorrow's election? >> they certainly expect a lot more movement in markets tomorrow and the following day. today was a go nowhere range day. even in the stocks they move into positive territory. dollar index has been firmly but lightly in positive territory with little turnover. same with the euro. many traders are saying, you know, it was momentum that propelled the giants in baseball. so, they're putting a lot of stock in momentum, which may be a positive for the challenger in the form of mitt romney but everybody has their own unique foibles how they want to proceed on the trading side. traders aren't giving me anything solid as a glimpse into who wins but they seem optimistic they think the fiscal cliff will be dealt with, but it won't be dealt with until next year and dealt with retrospectively. >> i would agree, that's what people are saying now. chris, regardless, you're saying you're staying neutral before the election. what does that mean? where are you putting your money right now? >> i think
for joining us, everybody. why do you think that? >> well, as many of your guests have told you today, it's removing that uncertainty. i think this market doesn't care who wins. they'll finally put it to rest. they'll finally know who they're dealing with. it's better the devil you know than the devil you don't. >> gary, you're really focused on that fiscal cliff. are they going to be able to work this out? tell us how you envision this taking place after the election. >> we think this is the critical problem the country faces after the election. we see several scenarios. one is just kick the can down the road. we don't think that's the most likely scenario. the other is going over the fiscal cliff. we don't think that's the most likely scenario. we think there will be some compromise which will create some fiscal drag for the economy. >> if they've not been able to come to a compromise on this yet -- and by the way, this all happened one year ago. everybody who was in place today, that includes the president and congress, this happened on their watch. so you would think that they would s
-on cnbc interview. good to have you on the program. thanks for joining us. >> sure, maria. >> well, tell us, what happened first yesterday at final mediation talks? was a deal ever close? >> you know, the judge has a gag order. he'll have my head if i talk about what went on during the mediation, but i think that he wanted to make sure that he did everything in his power to try to find a deal, if there was one to be found. you know, i appreciate the fact that he went through that effort. i was hopeful, but i think realistically that was going to be a tough thing to pull off. >> how much of an implication it was the fact the union leader did not show up to those mediation talks? >> well, the leader of the bakers union sent his second in command to the meeting. i think that part of what we needed to sort of focus on is the hole that's been created by the strike and the financial damage from that strike and our inability to produce at some of our critical plants. really just created a brand new hole that was too large to fill. bankrupt companies don't have a lot of margin for error to begin
with a look at the day. michael santoli and rick santelli joining us. rick, tell me what the act was like today in chicago as the market for equities was all over the map. >> it was, but all the traders normally behind me are gone. futures closed an hour ago. on the left screen they had a one-minute chart of the s&p futures. on the other screen, a one-minute chart of the ten-year. it was all about the stock market today. just consider this, right before we knew the president was re-elected, the yield on a ten-year note was 175. here we sit at 161. unchanged from yesterday. still it down ten basis points from its last friday close at 171. pretty pitmuch most of the lowe yooel yields are based on uneasiness. fiscal cliff, raising taxes in a slow economy. all of it is coming home to roost. >> mike, we had the president come out saying that he will veto any legislation that allows the tax cuts to be extended for the highest earners. is that what poured water on the rally? >> it didn't hurt. obviously, there was no breakthrough. i think the one thing to take away from today's action was the fe
Search Results 0 to 8 of about 9

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